Data Analytics and Bioinformatics Markets Set for Significant Growth by 2031

Data Analytics Market to Surpass $378.05 Billion by 2031 | SkyQuest Technology

Westford, USA, July 23, 2024 (GLOBE NEWSWIRE) -- Data Analytics Market size was valued at USD 44.30 Billion in 2022 and is expected to grow from USD 56.22 Billion in 2023 to USD 378.05 Billion by 2031, at a CAGR of 26.90% during the forecast period (2024-2031). SkyQuest projects that the data analytics market will attain a value of $160.31 Billion by 2031, with a CAGR of 30.4% over the forecast period (2024-2031). Data analytics is a multidisciplinary field that combines a wide range of analysis methods, including mathematics, statistics, and computer science, to extract insights from data sets. "Data analytics" is a broad term that includes everything from fundamental data analysis to conjecturing about data collection techniques and creating the frameworks needed for data storage. The data analytics market is driven by rise in dependence on cloud storage platforms for storing an increasing amount of sensitive data. This is because cloud-based data analytics operations result in significant cost reductions and enhance collaboration prospects. It provides businesses with smart customer data, enabling them to make more profitable decisions. Moreover, increase in the need for edge computing is driving the growth of the market. Local data speeds up the upload of data to on-premises or cloud systems and lowers bandwidth demands on servers and networks. Edge computing is particularly important to industrial IoT since it can evaluate data more rapidly and in real time. Download a detailed overview: https://www.skyquestt.com/sample-request/data-analytics-market Browse in-depth TOC on "Data Analytics Market" Pages - 157Tables - 121Figures - 72 Data Analytics Market Overview: Report Coverage DetailsMarket Revenue in 2023$51.48 Billion Estimated Value by 2031$160.31 BillionGrowth RatePoised to grow at a CAGR of 30.4%Forecast Period2024-2031Forecast UnitsValue (USD Billion)Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and TrendsSegments CoveredType, Deployment, Enterprise Size, End-use, RegionGeographies CoveredNorth America, Europe, Asia Pacific, and the Rest of the worldReport HighlightsUpdated financial information/Product portfolio of playersKey Market OpportunitiesSurge in the proliferation of AI and MLKey Market DriversRise in edge computing Big data analytics dominated the data analytics market due to widespread applications of big data analytics. According to the data analytics industry report, the big data analytics segment achieved a significant market share and is expected to do so in the years to come. The application of big data analytics is becoming more widespread, which is greatly boosting the market's expansion. Because big data analytics is increasingly being integrated with highly advanced technologies such as artificial intelligence (AI), deep learning, machine learning, and the Internet of Things (IoT), its market share is rapidly increasing. Cloud-based segment within the deployment segment is expected to rise due to the increasing use of cloud-based solutions According to data analytics industry estimates by SkyQuest Technology, the cloud-based segment is predicted to develop at the fastest rate during the projection period. The increased industry use of cloud-based solutions is the primary driver of category growth. With cloud-based analytics, businesses can handle and analyze large volumes of data efficiently and without being constrained by traditional infrastructure due to its scalability. Furthermore, affordability of cloud installations, which includes flexible pricing options and fewer upfront costs, makes them highly alluring. The accessibility and collaboration features, which enable easy access to data and cross-border real-time decision-making, further improve the attraction. Strong foothold of key players in North America ensured market dominance. North America accounted for the largest portion of the global data analytics market as of 2021. This domination is expected to remain for the upcoming year. The existence of top data analytics companies and rising investment in the development of cutting-edge analytics solutions are the primary factors driving the growth of the big data analytics market in North America. The big data analytics market in North America is expected to increase during the forecast period due to the expansion of IoT and IoT infrastructure, and the use of cloud computing across several end-use sectors. Throughout the period, Asia-Pacific is expected to witness growth due to rise in the use of advanced analytics solutions within the region. Asia Pacific is expected to grow at the fastest rate over the projection period due to the rising use of advanced analytics solutions for managing and analyzing big data collected from commercial, industrial, and residential data sources. The exponential surge in data generation is attributed to the development of IoT technologies and linked devices, and the region's rapid digital transformation. Organizations in the Asia-Pacific are increasingly turning to advanced analytics to enhance decision-making, streamline processes, and gain insightful information. Request Free Customization of this report: https://www.skyquestt.com/speak-with-analyst/data-analytics-market Data Analytics Market Insights Drivers: Technological advancementsGrowing adoption of AI and MLApplication across industries Restraints: Data privacy and security concernsLack of skilled workersResistance to change The following are the Top Data Analytics Companies MicrosoftDell, Inc.SAP SEOracleZoho Corporation Pvt. Ltd.SiSense Inc.IBM CorporationDatameer, Inc.Mu SigmaSAS Institute Inc. View Report Summary and Table of Contents (TOC): https://www.skyquestt.com/report/data-analytics-market Key Questions Covered in the Data Analytics Market Report Which region is expected to dominate the market during the forecast period?What are the segments covered in this report?What strategies are adopted by key players within the market? This report provides the following insights: Drivers, challenges Analysis of key drivers (growing adoption of AI and ML, technological advancements), restraints (lack of skilled workers), opportunities (surge in the proliferation of AI and ML), and challenges (data privacy and security concerns) influencing the growth of the data analytics market.Market Penetration: Comprehensive information on the product portfolios offered by the top players in the data analytics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the data analytics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players. Related Reports: Customer Journey Analytics Market Predictive Analytics Market Video Analytics Market Machine Learning Market Artificial Intelligence Market About Us: SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech, and Information & Communication Technology. We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific. Mr. Jagraj Singh SkyQuest Technology 1 Apache Way, Westford, Massachusetts 01886 USA (+1) 351-333-4748 Email: sales@skyquestt.com Visit Our Website: https://www.skyquestt.com/ Market News and Data brought to you by Benzinga APIs

Bioinformatics Market to Gain USD 45.6 Billion by 2031 | SkyQuest

Westford, USA, July 23, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Global Bioinformatics Market will attain a value of USD 45.6 Billion by 2031, with a CAGR of 16.3% over the forecast period (2024-2031). Growth in the public and private sectors of the economy, the need for precision medicine, increased spending on pharmaceutical and biotech R&D, and falling genome sequencing prices are the main factors propelling the market growth. Some of the most promising opportunities exist in emerging markets such as Brazil, China, and India, however, the confidentiality of health records remains an issue. The world market share is 45.1% for North America on account of its robust genetic research initiatives and favourable government policies. Download a detailed overview: https://www.skyquestt.com/sample-request/bioinformatics-market Browse in-depth TOC on the " Bioinformatics Market " Pages - 197Tables - 95Figures - 76 Bioinformatics Market Overview: Report CoverageDetailsMarket Revenue in 2023$15.35 BillionEstimated Value by 2031$45.6 BillionGrowth RatePoised to grow at a CAGR of 16.3%Forecast Period2024-2031Forecast UnitsValue (USD Billion) Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and TrendsSegments CoveredProduct & Services, Application and SectorGeographies CoveredNorth America, Europe, Asia-Pacific, and the Rest of the worldReport HighlightsAdvances in pharmacogenetics to create market opportunitiesKey Market OpportunitiesLucrative opportunities in emerging marketsKey Market DriversGrowing demand for protein sequencing for research initiatives to empower Bioinformatics Platforms to Dominate Due to their Surge in Demand from Life Science Firms The growing need for personalized medicine, the integration of AI and machine learning, and developments in computational biology are what are propelling bioinformatics platforms to their dominant position in the worldwide bioinformatics market. By aiding complicated biological research, quickening drug discovery and enhancing information analysis ability, these parts reinforce their lead spot in the market. Drug Development to be the Largest Growing Sub-Segment Due to Accelerating Target Identification The global bioinformatics market is dominated by drug development, driven by the demand for effective tools for data management and analysis. Target identification and validation is made more efficient by continuous improvement in the bioinformatics analysis also making it more crucial in the bioscience industry due to faster and cheaper drug discovery and development. Request Free Customization of this report: https://www.skyquestt.com/speak-with-analyst/bioinformatics-market Ever Expanding R&D Helped North America to Dominate the Market With the majority of the bioinformatics market share in 2022, North America dominated the bioinformatics market, and this trend is anticipated to be true for the duration of the forecast period. This is brought about by both an increase in the usage of cutting-edge technology and a growing need for better bioinformatics tools, which are necessary for medication research and development. Bioinformatics Market Insight Drivers: Growing Demand for Protein Sequencing for Research InitiativesIncreased Research on Drug DeliveryTechnologically Advanced Bioinformatics Software Restraints: Need for Complex Systems to Handle BioinformaticsMajority of Experimental Researchers not Being BioinformaticiansSME Pharmaceutical Companies Cannot Afford to Make Large Investments The following are the Top Bioinformatics Companies Thermo Fisher Scientific, Inc. (US)Eurofins Scientific (Luxembourg)QIAGEN N.V. (Netherlands)Agilent Technologies, Inc. (US)Waters Corporation (US)DNASTAR (US)NeoGenomics Laboratories (US)Perkin Elmer, Inc. (US)BGI Group (China)Fios Genomics (UK) Key Questions Answered in Global Bioinformatics Market Report By 2031, how much is the worldwide bioinformatics market estimated to be worth, and what is the anticipated compound annual growth rate (CAGR) for this industry?What are the primary reasons propelling the bioinformatics market's expansion globally?In the bioinformatics market in 2022, which region accounted for the highest proportion of the market, and why did it dominate? View report summary and Table of Contents (TOC): https://www.skyquestt.com/report/bioinformatics-market This report provides the following insights: Analysis of key drivers (Increasing demand for protein sequencing, nucleic acid along with initiatives from government, molecular biology accompanied by growth in genomics & proteomics and accurate analysis of biomarkers discovery programs), restraints (necessitating advanced computer skills, lack of a suitable user interface and processing large volume of biological data), opportunities (R&D investments from global players, growth of genomics & transcriptomics and increasing competition in bioinformatics markets), and challenges (Rapid influx of data in bioinformatics and lack of user-friendly tools) influencing the growth of bioinformatics marketMarket Penetration: Comprehensive information on the product portfolios offered by the top players in the bioinformatics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the bioinformatics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players. Related Reports: Healthcare IT Market Digital Health Market Genomics Market Artificial Intelligence (AI) in Healthcare Market Next Generation Sequencing (NGS) market About Us: SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology. We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific. About Us: SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology. We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. Mr. Jagraj Singh Skyquest Technology 1 Apache Way, Westford, Massachusetts 01886 USA (+1) 351-333-4748 Email: sales@skyquestt.com Visit Our Website: https://www.skyquestt.com/ Market News and Data brought to you by Benzinga APIs